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1. TRACXN MONTHLY REPORT
DECEMBER 2021
FINLAND TECH

2. Finland Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
2
Finland Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 6
Top Funded Business Models - last 1 year 7
New Analyst Picks 8
Acquisitions 10
Recent News 11

3. Finland Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Finland Tech Snapshot – December 2021
Finland Tech: Snapshot – December 2021
Note : "Investors" refers to "Institutional Investors" only
3
$115M
5
Overall Geo Stats
2
2
10
9
7
Funding Rounds $ Invested Analyst Picks
Enfuce Upgraded to
SOONICORN
New Investors
mandatumam.com
Vitruvian Partners
Series A+ rounds Active Investors IPOs Acquisitions
Hillava
SokoPro
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Espoo
(3 Rounds, $79.0M)
Helsinki
(3 Rounds, $35.9M)
Lempaala
(1 Rounds, $563K)
$50.9M - Series C
Enfuce (2016, Espoo, $64.9M)
$28.2M - Series B
Oddlygood (2021, Helsinki, $28.2M)
$25M - Series C
ICEYE (2014, Espoo, $177M)
$5.7M - Series A
Loupedeck (2016, Helsinki, $8.1M)
OpenOcean
(1 Investments)
Tencent
(1 Investments)
Vitruvian Partners
(1 Investments)
zVentures
(1 Investments)
Payments
Enfuce
Banking Tech
Food Tech
Oddlygood
Geographic Information Systems
ICEYE
Market Size
Companies Covered 2,885
Funded Companies 1,088
Total Funding $5.3B
Funding in last 12 months $1.4B
Top Exits
IPOs 24
Acquisitions 200
Company Stage
Unicorns 1
Soonicorns 19
Minicorns 92
Editor Picks 397
Series A+ 254
Series C+ 37
Acqui-Hires 1
Deadpooled 194
Top Cities
Helsinki (578 Rounds, $3.3B)
Espoo (151 Rounds, $773M)
Top Investors
Business Finland (100 Investments)
Lifeline Ventures (50 Investments)

4. Finland Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Finland Tech as of December 2021
Finland Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (December 2021)*
Enfuce
(2016, Espoo, $64.9M)
$50.9M - Series C Vitruvian Partners
Oddlygood
(2021, Helsinki, $28.2M)
$28.2M - Series B
ICEYE
(2014, Espoo, $177M)
$25.0M - Series C Seraphim Capital
Loupedeck
(2016, Helsinki, $8.1M)
$5.7M - Series A Play Ventures
Workfellow
(2020, Espoo, $3.1M)
$3.1M - Series A OpenOcean
NinaData
(2021, Helsinki, $2.0M)
$2.0M - Seed
SYKE Tribe
(2014, Lempaala, $563K)
$563K - Seed Nostetta Ventures
*Shows only the lead Investors

5. Finland Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Finland Tech in December 2021
Finland Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$25.0M - Series C
ICEYE (2014, Espoo, $177.0M)
Provider of AI and microsatellite-based imaging
services
Seraphim Capital
LATE STAGE
$50.9M - Series C
Enfuce (2016, Espoo, $64.9M)
Open banking API solutions
Vitruvian Partners, Tencent, Maki.vc
EARLY STAGE
$3.1M - Series A
Workfellow (2020, Espoo, $3.1M)
AI based workflow automation software
OpenOcean, Icebreaker, Kulpreet Singh, Kedar Dani
EARLY STAGE
$5.7M - Series A
Loupedeck (2016, Helsinki, $8.1M)
Internet first brand offering editing controllers
zVentures, Play Ventures
EARLY STAGE
$28.2M - Series B
Oddlygood (2021, Helsinki, $28.2M)
Platform offering plant-based dairy products
SEED STAGE
$563.4K - Seed
SYKE Tribe (2014, Lempaala, $563.4K)
Provider of software for fitness trainers and trainees
Nostetta Ventures
SEED STAGE
$2.0M - Seed
NinaData (2021, Helsinki, $2.0M)
Provider of privacy based contextual data and
advertising solutions

6. Finland Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors
List of New Investors in Finland Tech in December 2021
Finland Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
mandatumam.com
1 portfolio companies | Diversified asset management firm
Oddlygood
Platform offering plant-based dairy products
$28.17M Series B
Vitruvian Partners
44 portfolio companies | PE and VC fund focused on multiple sectors
Enfuce
Open banking API solutions
$50.88M Series C

7. Finland Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
7
Rank Business Model $ Funding # Rounds Top Funding Round
1 <> 0 Food Ordering Platforms $536M 1 Wolt | $536M | Series E
2 ▲7 Database as a Service (DBaaS) $160M 2 Aiven | $100M | Series C
3 ▲7 Infrastructure as a Service for Big Data $160M 2 Aiven | $100M | Series C
4 ▲8 Sleep Management Devices $105M 2 Oura | $100M | Series C
5 -- Open Banking API Providers $59.2M 2 Enfuce | $50.9M | Series C
6 -- Open Banking APIs for Payments $59.2M 2 Enfuce | $50.9M | Series C
7 -- Electric Vehicle Charging Station Management Software $36.8M 2 Virta | $36.0M | Series C
8 -- Crypto Exchanges $36.4M 2 Element Fina.. | $32.0M | Series B
9 -- Fibre Waste Recyclers $35.7M 1 Infinited Fi.. | $35.7M | Series B
10 -- Plant Based Seafood Substitutes $28.2M 1 Oddlygood | $28.2M | Series B

8. Finland Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Finland Tech in December 2021
Finland Tech: Analyst Picks
8
Upgraded to SOONICORN
Enfuce (2016, Espoo, $50.9M, Series C)
Open banking API solutions
Vitruvian Partners, Finnvera, Tencent and 3 other
Investors
Upgraded to MINICORN
Loupedeck (2016, Helsinki, $2.4M, Seed)
Internet first brand offering editing controllers
zVentures,Play Ventures,Founders' Edgeand
Upgraded to MINICORN
Oddlygood (2021, Helsinki, $28.2M, Series B)
Platform offering plant-based dairy products
Added to Editor's Pick
Oddz (2020, , $2.6M, Seed)
Decentralized trading platform for cryptocurrencies
and options
Chandresh Aharwar, Sandeep Nailwal, Altonomy and
17 other Investors
Added to Editor's Pick
Tractr (2019, Helsinki, $2.0M, Seed)
Provider of tools to manage shared spaces
Reaktor Ventures,Halton,Lifeline Venturesand
Added to Editor's Pick
Balancer (2019, Unfunded)
Portfolio management platform for cryptocurrency
TrustVCand
Added to Editor's Pick
School Day (2017, Helsinki, Unfunded)
Provider of AI and SaaS-driven student wellbeing
management solutions for schools

9. Finland Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Finland Tech in December 2021
Finland Tech: Analyst Picks
9
Added to Editor's Pick
Yeply (2016, Espoo, Unfunded)
Provider of wheel maintenance services
Added to Editor's Pick
SweepBank (2020, Helsinki, Unfunded)
Digital bank for individuals

10. Finland Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Finland Tech in December 2021
Finland Tech: Acquisitions
10
Acq. Date Company Acquirer Deal Size
22 Dec 2021
Hillava(2021, Jyvaskyla)
Platform offering ERP software for businesses
Admicom
23 Dec 2021
SokoPro(1993, Espoo)
Cloud based risk management solutions for the construction
industry
iBinder

11. Finland Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Finland Tech in December 2021
Finland Tech:News
11
Exit News
.
● Organon to acquire Finland pharma company with novel treatment for
endometriosis in its pipeline NJ
.
● 8x8 to buy Fuze for US$250m CRN Australia
.
● Organon Completes Acquisition of Forendo Pharma Business Wire India
.
● Seraphim Space Investment Trust takes portfolio to 21 companies with double
acquisition Proactive Investors
.
People News
.
● Strong growth at Ultimate as top-rated virtual agent platform celebrates fifth
anniversary and takes new expan... PR Newswire
.
● Panostaja Oyj appointment news: Mika Yletyinen appointed President and
CEO of Oscar Software GlobeNewswire
.
● bttn Adds Former McKesson Medical CEO Steve Nielsen to Advisory Board
Business Wire

12. Finland Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Explore more on Tracxn
Explore more about Finland Tech on Tracxn Platform
Finland Tech: Explore more on Tracxn Platform
12
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Finland
AI Companies in Finland
Fintech Companies Finland
Consumer Digital in Finland
Company Due Diligence
Detailed profile of Aiven
Competitors of
Cap Tables of
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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